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Oil extends losses on report of talks to end Lebanon war

Oil prices added to losses on Tuesday on a report that Israeli Prime Minister Benjamin Netanyahu will hold a meeting for a diplomatic solution to the war in Lebanon.

Brent crude futures were down $0.39 to $71.03 a barrel.

U.S. West Texas Intermediate crude shed $0.33 to $67.05 a barrel.

The two benchmarks had gained more than $1 a barrel earlier in the session. 

Both contracts fell on Monday to their lowest levels since October 1 after Israel's retaliatory strike on Iran at the weekend bypassed Tehran's oil infrastructure.



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